NVIDIA (NASDAQ:NVDA) Upgraded to “Overweight” at Morgan Stanley

Morgan Stanley upgraded shares of NVIDIA (NASDAQ:NVDA – Get Rating) from an equal weight rating to an overweight rating in a report published on Thursday morning, The Fly reports.

Other equities research analysts have also issued research reports about the stock. Oppenheimer increased their price objective on shares of NVIDIA from $250.00 to $275.00 and gave the stock an outperform rating in a research note on Thursday, February 23rd. Piper Sandler increased their price objective on shares of NVIDIA from $200.00 to $225.00 and gave the stock an overweight rating in a research note on Wednesday, February 22nd. Summit Insights upgraded shares of NVIDIA from a hold rating to a buy rating in a research note on Wednesday, November 16th. Cowen increased their price objective on shares of NVIDIA from $240.00 to $260.00 in a research note on Thursday, February 23rd. Finally, Cowen increased their price objective on shares of NVIDIA from $200.00 to $220.00 in a research note on Monday, December 12th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, NVIDIA currently has a consensus rating of Moderate Buy and a consensus target price of $242.14.

NVIDIA Stock Performance

Shares of NVDA stock opened at $255.41 on Thursday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.73 and a current ratio of 3.52. NVIDIA has a one year low of $108.13 and a one year high of $289.46. The company’s 50-day simple moving average is $208.67 and its 200-day simple moving average is $166.22. The stock has a market capitalization of $630.86 billion, a price-to-earnings ratio of 146.79, a PEG ratio of 4.27 and a beta of 1.76.

NVIDIA (NASDAQ:NVDA – Get Rating) last issued its quarterly earnings results on Wednesday, February 22nd. The computer hardware maker reported $0.88 EPS for the quarter, topping the consensus estimate of $0.81 by $0.07. The business had revenue of $6.05 billion for the quarter, compared to analysts’ expectations of $6.02 billion. NVIDIA had a net margin of 16.19% and a return on equity of 26.61%. The company’s quarterly revenue was down 20.8% compared to the same quarter last year. During the same quarter last year, the company posted $1.14 earnings per share. Equities analysts anticipate that NVIDIA will post 3.21 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 29th. Investors of record on Wednesday, March 8th will be paid a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 0.06%. The ex-dividend date of this dividend is Tuesday, March 7th. NVIDIA’s dividend payout ratio is 9.20%.

Insider Buying and Selling

In related news, EVP Debora Shoquist sold 23,532 shares of the firm’s stock in a transaction that occurred on Friday, January 27th. The shares were sold at an average price of $205.00, for a total value of $4,824,060.00. Following the completion of the transaction, the executive vice president now owns 162,944 shares of the company’s stock, valued at approximately $33,403,520. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Debora Shoquist sold 23,532 shares of the firm’s stock in a transaction that occurred on Friday, January 27th. The shares were sold at an average price of $205.00, for a total value of $4,824,060.00. Following the completion of the transaction, the executive vice president now owns 162,944 shares of the company’s stock, valued at approximately $33,403,520. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mark L. Perry sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, February 27th. The stock was sold at an average price of $236.37, for a total transaction of $4,727,400.00. Following the completion of the transaction, the director now directly owns 140,000 shares of the company’s stock, valued at approximately $33,091,800. The disclosure for this sale can be found here. In the last 90 days, insiders sold 293,066 shares of company stock valued at $51,229,679. Company insiders own 4.04% of the company’s stock.

Institutional Investors Weigh In On NVIDIA

A number of institutional investors have recently modified their holdings of the stock. Claro Advisors LLC boosted its stake in shares of NVIDIA by 60.2% during the 4th quarter. Claro Advisors LLC now owns 7,947 shares of the computer hardware maker’s stock valued at $1,161,000 after buying an additional 2,986 shares during the period. Mather Group LLC. boosted its stake in shares of NVIDIA by 9.0% during the 4th quarter. Mather Group LLC. now owns 7,881 shares of the computer hardware maker’s stock valued at $1,152,000 after buying an additional 648 shares during the period. Flagstone Financial Management acquired a new stake in shares of NVIDIA during the 4th quarter valued at $286,000. Capital Asset Advisory Services LLC boosted its stake in shares of NVIDIA by 17.3% during the 4th quarter. Capital Asset Advisory Services LLC now owns 14,551 shares of the computer hardware maker’s stock valued at $2,151,000 after buying an additional 2,142 shares during the period. Finally, Great Lakes Retirement Inc. acquired a new stake in shares of NVIDIA during the 4th quarter valued at $7,007,000. Institutional investors and hedge funds own 61.80% of the company’s stock.

About NVIDIA

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NVIDIA Corp. engages in the design and manufacture of computer graphics processors, chipsets, and related multimedia software. It operates through the following segments: Graphics Processing Unit (GPU), Tegra Processor, and All Other. The GPU segment consists of product brands, including GeForce for gamers, Quadro for designers, Tesla and DGX for AI data scientists and big data researchers, and GRID for cloud-based visual computing users.